5 September 2024 – BW ENERGY: MANDATORY NOTIFICATIONS OF TRADE
BW Group Limited (“BW Group”) has acquired 5,440,887 shares in BW Energy Limited (“BW Energy”) at a price of NOK 25 per share, and has agreed to sell the same number of shares at the same price to BW Energy Holdings Limited (“BWE Holdings”). Following these transactions BWE Holdings will own 197,343,997 shares (approximately 76.49%) in BW Energy. BW Group will not hold any shares in BW Energy. BW Group and BWE Holdings are close associates of Andreas Sohmen-Pao, Chairman of the board of directors of BW Energy. Please refer to the attached notifications of trading for further details.
About BW Energy:
BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 580 million barrels of oil equivalent at the start of 2024.
This information is published in accordance with the disclosure requirements in Regulation EU 596/2014 (MAR) article 19, section 5-12 of the Norwegian Securities Trading Act, and the Oslo Rule Book II.
Attachments